FX.co ★ U.S. Jobless Claims Dip More Than Expected To 233,000

The Labor Department released a report on Thursday indicating a notable decline in initial claims for U.S. unemployment benefits for the week ending June 22nd, surpassing expectations.

According to the report, initial jobless claims fell to 233,000, marking a reduction of 6,000 from the previous week's adjusted figure of 239,000. Economists had anticipated a slight decrease to 236,000 from the originally reported 238,000 for the preceding week.

The report also highlighted an increase in the less volatile four-week moving average, which rose to 236,000, up by 3,000 from the prior week's revised average of 233,000.

Regarding continuing claims, which reflect the number of individuals receiving ongoing unemployment benefits, there was an increase of 18,000, bringing the total to 1.839 million for the week ending June 15th. This rise brings continuing claims to their highest level since reaching 1.878 million in the week ending November 27, 2021.

Furthermore, the four-week moving average of continuing claims saw an uptick of 12,250, climbing to 1,816,000, the highest it has been since hitting 1,859,750 for the week ending December 4, 2021.